Plastic imports decline 7.9pc in eight months

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ISLAMABAD: The import of plastic material into the country witnessed a decline of 7.94pc during the first eight months of the current financial year (2019-20), as compared to the corresponding period of last year.

Pakistan imported plastic worth $1,326.052 million during July-February FY20 as compared to the imports of $1440.492 million during July-February FY19, according to data released by the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the import of plastic witnessed an increase of 7.23pc as the country imported 1,059,006 metric tonnes of plastic during the period under review compared to the imports of 987,612 metric tonnes during the corresponding period of last fiscal year.

Meanwhile, on a year-on-year basis, plastic imports into the country during February 2020 witnessed an increase of 6.53pc when compared to the imports of the same month of the last year.

Plastic imports during the month under review were recorded at $202.790 million as against the imports of $190.354 million during February 2019.

On a month-on-month basis, plastic imports during February 2020 also increased by 15.54pc when compared to the imports of $175.518 million in January 2020.

It is pertinent to mention that the country’s merchandise trade deficit plunged by 26.45pc during the first nine months of the current fiscal year as compared to the same month of last year.

During the period under review, the country’s exports registered about 2.23pc growth, whereas imports reduced by 14.42pc.

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